Ghelamco sells Crown Investment for €55m (PL)

Ghelamco, the Belgium-based developer, has sold Crown Investment, a portfolio of two office buildings â€" Crown Point and Crown Tower â€" for a total price of around €55 mln. The purchaser is IMAK CEE N.V., a newly created subsidiary of Austrian real estate groups Immeast and Akron.

Crown Point has 10,800 sqm of office space and was completed in the first quarter of 2004. By the time its smaller sister building (8,500 sqm) was completed in November of last year Crown Point was already 96 pct leased. The developments are located on the intersection of ul. Prosta and ul. Przyokopowa in the Wola district of Warsaw.

IMAK CEE now has 5 properties in the Polish capital, following its acquisition in 2004 of Ghelamco’s portfolio of 3 buildings in the suburb of Mokotów.

Source: Eurobuild

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